KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36. The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session. The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
KUALA LUMPUR (May 27): The FBM KLCI closed up 3.03 points or 0.19% today on bargain hunting amid a volatile market as persistent US-China trade war concerns led to a lack of clarity on global economic growth prospects.
Analysts said such sentiment appeared to have sidelined investors as share trade volume and value across Bursa Malaysia ended lower. At 5pm, the KLCI closed at 1,601.35 points, for its first gain after three sessions of decline during holiday-shortened trading last week.
Today, the KLCI closed up on bargain hunting after falling to its intraday low at 1,597.25.
Across Bursa Malaysia, 1.6 billion shares worth RM1.29 billion were traded today. On Friday, trade volume stood at 1.89 billion shares worth RM1.55 billion.
Today, Public Investment Bank Bhd research head Ching Weng Jin said:
"There is still a lack of clarity over global growth prospects as well
as the situation with the US-China trade war.
“The US has been saying that it is close to a deal but there needs to be a resolution to the dispute as investors are staying away as they do not know what to expect going forward.”
At Bursa Malaysia, top gainers included Ajinomoto (M) Bhd and KLCI stocks Public Bank Bhd and Sime Darby Plantation Bhd. The most-actively traded stock was Bumi Armada Bhd.
Across Asia, Reuters reported that Asia stocks inched up but remained near four-month lows on Monday amid concerns about US-China tensions while the euro stayed in a narrow range after the weekend's European Parliament elections.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, off a four-month low touched on Friday, with market holidays in the US and UK denting trading volumes.
Source: The Edge
“The US has been saying that it is close to a deal but there needs to be a resolution to the dispute as investors are staying away as they do not know what to expect going forward.”
At Bursa Malaysia, top gainers included Ajinomoto (M) Bhd and KLCI stocks Public Bank Bhd and Sime Darby Plantation Bhd. The most-actively traded stock was Bumi Armada Bhd.
Across Asia, Reuters reported that Asia stocks inched up but remained near four-month lows on Monday amid concerns about US-China tensions while the euro stayed in a narrow range after the weekend's European Parliament elections.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, off a four-month low touched on Friday, with market holidays in the US and UK denting trading volumes.
Source: The Edge
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